Taking Action
Outlook for 2024
Economic growth
A return to modest economic growth is expected, helped by lower inflation and rising wages, which should support our business. Even so, economies still face considerable challenges, not least from external shocks resulting from wars in Ukraine and the Middle East.
Skills shortages
Skills shortages have continued in many parts of the economy and the situation shows little sign of letting up. Across the EU, unemployment is forecast to remain low. So far, we’ve not seen significant shortages at our stores or distribution centres. But, in a competitive market, companies like Action will need to work to attract and retain talent.
Responsible supply chains
Retailers will need to be more transparent about how they manage their supply chains, particularly on issues like child labour and human rights. Action is already working closely with suppliers on these issues as part of the Action Sustainability Programme.
International growth
We will continue our international growth. As customer demand grows, so will we: we opened our first store in Portugal in February 2024 and will add new distribution centres later in the year. To help us manage continued growth, we will strengthen our core processes in HR and Finance and phase in an updated company-wide Enterprise Resourcing Planning system.
Eco-conscious consumers
Increasingly, customers are eco-conscious, as well as cost-conscious. Eco-consciousness has become part of the consumer mainstream. Businesses are expected to be environmentally responsible, reducing carbon emissions and making sure they limit their climate impact.
Digital opportunities
Digital technologies are expected to continue to advance and open up new opportunities for retailers to improve marketing, increase efficiency and streamline the flow of goods. We will continue to develop our digital ecosystem as a strategic priority for 2024.
Prices and inflation
Across Europe, inflation has receded, but prices and household bills remain high, particularly for food and energy. We expect customers to continue to look to save money where possible, especially on daily necessities like washing powder and cleaning products. As a discount retailer, it's imperative that we continue to look to offer products at the lowest price – particularly for in-demand categories – if we're to continue to meet customer needs.
Digital opportunities
Digital technologies are expected to continue to advance and open up new opportunities for retailers to improve marketing, increase efficiency and streamline the flow of goods. We will continue to develop our digital ecosystem as a strategic priority for 2024.
Eco-conscious consumers
Increasingly, customers are eco-conscious, as well as cost-conscious. Eco-consciousness has become part of the consumer mainstream. Businesses are expected to be environmentally responsible, reducing carbon emissions and making sure they limit their climate impact.
International growth
We will continue our international growth. As customer demand grows, so will we: we opened our first store in Portugal in February 2024 and will add new distribution centres later in the year. To help us manage continued growth, we will strengthen our core processes in HR and Finance and phase in an updated company-wide Enterprise Resourcing Planning system.
Responsible supply chains
Retailers will need to be more transparent about how they manage their supply chains, particularly on issues like child labour and human rights. Action is already working closely with suppliers on these issues as part of the Action Sustainability Programme.
Skills shortages
Skills shortages have continued in many parts of the economy and the situation shows little sign of letting up. Across the EU, unemployment is forecast to remain low. So far, we’ve not seen significant shortages at our stores or distribution centres. But, in a competitive market, companies like Action will need to work to attract and retain talent.
Economic growth
A return to modest economic growth is expected, helped by lower inflation and rising wages, which should support our business. Even so, economies still face considerable challenges, not least from external shocks resulting from wars in Ukraine and the Middle East.
Prices and inflation
Across Europe, inflation has receded, but prices and household bills remain high, particularly for food and energy. We expect customers to continue to look to save money where possible, especially on daily necessities like washing powder and cleaning products. As a discount retailer, it's imperative that we continue to look to offer products at the lowest price – particularly for in-demand categories – if we're to continue to meet customer needs.